The Experian contract says that the information is being collected “for use in a wide range of policy research projects,” echoing CFPB Director Richard Cordray’s April 23 contention that the data will be used only to help “inform policy decisions.” Fitton, however, believes the program is not only wasteful but a threat to financial security. “This data can only be managed by hiring scores of contractors and outside government entities to analyze it,” he said. “When you widen the circle, you lessen security. It would not surprise me if in a year or two we hear about some contractor running off with this data.”
Posted on: Sun, 30 Jun 2013 16:03:16 +0000
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